Hindalco raised Rs 98.96 bn for Aluminium smelter project in Odisha

Hindalco Industries has raised Rs 98.96 billion to fund its Aluminium smelter project in Odisha.

The debt funded through a consortium of 28 banks and financial institutions has a tenor of 12.5 years and interest rate of 11.25% a year.

The 131.95 billion Aditya Aluminium smelter project is being funded in a debt-equity ratio of 75:25.

Source: Myiris